Why WWB? When Women’s World Banking began in 1975, its founders had a simple but far-reaching plan: help women around the globe access the money economy of their own countries. Thirty years later, it has proudly stayed true to this guiding vision while also establishing Women’s World Banking as the pre-eminent international voice for women in microfinance. Under the leadership of Michaela Walsh, the organization’s first president, Women’s World Banking assisted its earliest network members as they grew from small non-profit organizations into thriving microfinance institutions. Today, our global network of 40 financial institutions in 28 countries serves 20 million clients, 74 percent of whom are women. In 2008, WWB network members had an outstanding loan portfolio of more than $4 billion.
To give you an idea of our journey, we are pleased to share this excerpt from the Women’s World Banking 1983 annual report, along with a video in which Michaela explains the founding mission behind WWB:
“The idea of Women’s World Banking began in 1975, became active in 1980 and ’81 and expanded into a movement in 1982 and ’83.
In this progression, there emerged a new sense of mutuality among women in business locally and the increased awareness of businesswomen linked to one another around the globe. From mutuality and awareness has come a creative energy, an enthusiasm generating real opportunities for small scale business enterprises.
In 1982, WWB made substantial progress toward the goals established in 1979:
- to create an independent financial institution and to be self-sufficient by the end of 1985;
- to help women obtain local access to the elements of production, e.g., capital, information, technology and markets;
- to encourage women about managing the savings and other personal assets which result from their own production;
- to establish a global network of women leaders in banking and finance.
When Women’s World Banking started, we had a very simple idea – to make women a part of the money economy of their own countries. A few people called us “visionary,” a term suggesting skepticism about the idea. In 1983 we proved, however, that we can generate support, we can work in collaboration with each other and we can function with a “decentralized management” style. By the end of the year, with an original projection of 15 affiliates by 1985, there were 19 independently-registered WWB affiliates in countries around the world and 17 other groups in formation.”
- Michaela Walsh, President
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